All growth. Earn 1.7—7% APY.
Get paid daily,in your sleep.
Free means free.No asterisks.
24/7 access.No minimum.
All funds FDIC-insured.Secure encryption.
Yes, funds deposited through Beam are ALWAYS FDIC-insured to the full amount.
Traditional banks often earn 4–8% a year on your money but only give you an average of 0.01% a year. These banks often have many costs—excessive executive bonuses, large advertising budgets, and costly downtown bank branches, etc. Without these costs Beam is able to pass on greater savings to you.
You do NOT need to switch banks to use Beam! Beam is designed to work with any and all existing bank accounts you have. While Beam excels at turbocharging your interest earnings with little effort, it does not replace your primary bank account which comes with checks and debit cards.
NO fees! Beam is FREE to use. No hidden fees even if you choose to close your account or maintain a $1 balance.
Beam makes money through software-as-a-service revenues from financial institutions.
While Beam does not offer ATM access, you can easily make an unlimited number of free transfers into and out of your Beam account at anytime. Funds will arrive in 2—3 business days observing normal bank processing time.
There is absolutely no minimum balance for using Beam. You can deposit up to $15,000 when you first onboard Beam. We expect this to be increased to $50,000 per account as Beam’s service matures over time. Beam also provides tailored rates for balances over $100,000; contact us for more details.
Your Beam account is a bank account, NOT an investment account. Unlike an investment account, you won’t have to lock your money away and be exposed to investment loss risk. Funds are placed at one of nearly 200 established FDIC-insured banks, some publicly-traded, that Beam works with. Beam itself is not a bank nor an FDIC-insured financial institution. In technical terms, your Beam funds are held in a Demand Deposit Account (DDA). For further details, refer to Beam’s Terms.
With cash deposited into Beam, you begin earning a guaranteed 1.7% Base Rate APY and can boost the APY to as high as 7% each day by collecting and using interest boosts (called a “Billie”). You can effortlessly collect a free Billie each day, and if you invite a friend to subscribe to the mailing list here on this website, you each earn 5 Billies that can be saved and used later. The more you invite, the more you earn. You heard it right. It’s just that simple.
Furthermore, when your friends begin to use Beam, you can permanently unlock higher Base Rates (e.g. up to a minimum of 3% a year!). All interests are accrued and paid daily. Download the app for more details or refer to Beam’s Terms.
First, you care because you know that when you deposit money in a bank, you are essentially loaning to the bank in exchange for interest. You find it unfair that while the big banks earn 4—8% a year on every dollar you deposit, they pay a mere 0.01% a year to you.
Second, you care because you know that the current U.S. inflation rate is above 2.6% based on Federal Reserve Bank of Dallas’ “trimmed mean ” inflation gauge. This means that if you deposit money with the bank that offers you anything less than 2.8% a year, you are losing money to inflation. It’s a leaky bucket, and that slow bleeding of your cash really adds up over time. Beam is proudly here to help you stop the bleeding.
Third, you care because, well, it is really a no brainer. If you deposit $15,000 with Beam, you’ll get paid—for free and FDIC-insured—$1 a day, $7 a week, $365 a year, and on average over $10,000 by the time you retire. You get all that for just 1 minute of effort. You do the math.
Last but not least, much of today’s financial industry is about enriching the top 1% wealthiest or, worst, preying on the 10% poorest. Isn’t it time for a service that truly serves the 99% Americans? Beam is for the 99% Americans and most of us who are not privileged by birth.
Any investments—stocks, bonds, mutual funds, ETFs—can lose value. Stocks investing can be especially volatile. Imagine stocks crashing right before you need cash for an emergency! Not to mention the fees you have to pay to brokers and fund managers regardless of performance.
With Beam, your funds will never lose value and is risk-free. Bye daily seismographs. Hello, steady, worry-free, effort-free and fee-free growth! Choose to invest only when you see an opportunity. Before you invest, keep your cash at a liquid, FDIC-insured, high-interest bank account like Beam. After you invest, if the market crashes, Beam is where you can fall back on.
It usually takes just 1 minute to open a Beam account through our mobile app. With the Beam app, you can keep things really simple with 24/7 mobile access and alerts, it really is not that complicated to track another account, especially when it helps stop your money from losing to inflation like a leaky bucket.
While we cannot predict the future, barring major policy changes by the Federal Reserve, Beam is committed to always stay true to our purpose and pay a rate that beats U.S. inflation. We refuse to bait-and-switch as other bank offerings might do.
Join the mailing list on this website and you’ll receive a download link for Beam. It takes just 1 minute to start. Verify your details (required by law) and link an existing bank account to fund Beam, and you’ll be on your way to earning the best possible rate.
Beam takes the safety of your money seriously. Your Beam mobile app is encrypted to protect against unwanted cybersecurity risks and observes rigorous security standards. For more details, refer to Beam’s Privacy and Security policies.
No, we are currently mobile-only.
More questions? Ask us here.
Using Beam has truly been a rewarding experience. The app is well-designed, easy to use, innovative, trendy, the functionality is seamless, and the customer service is phenomenal...Having years of experience in banking myself, I know that no other FDIC insured institution comes close to what Beam has to offer. Beam is a game changer!
- Doug P.
Beam is the fun, daily savings app that would give you better interest than any others in market, consistently. If you go back to the app daily, you’ll get smarter about money and earn more, no string attached.
- Mitch J.
I use Beam almost every day because I’d like to earn more on my idle cash in a super frictionless way. I also like how you can choose what time of the day you can boost your rate. It speaks to me that we control our money, not the banks.
- John B.
This is the highest possible rate for a bank account. I tell all my friends that let’s invite each other to get the 3% minimum base rate which will crush everything else in the market.
- Matt S.
I just saw an ad about your program, and it seems legit! I would be very interested to learn more about your product and how it's going to work. I had been thinking in today's low interest environment, there's got to be someone out there who's going to come up with something like this... and sure enough! Very excited to hear more.
- Kelby M.
I cannot tell you how excited I am that you all are doing what you're doing. I have been waiting for a financial product like Beam all my life...I have also been sharing the bits of information you've published with friends and family. We can't wait for Beam to be "live".
- Cody J.
I am definitely thinking about it. It would be a great place to park my money safely. Then I can always transfer it to my bank when I need it and with a better rate than my bank, it seems like a really good idea.
- Jen P.
I'd like to look into this more. Putting money in a bank is basically worthless now, but with a better return, it may be worth looking into. It is giving returns nobody else does in savings.
- Dan Z.
I really think you have an awesome concept going. I've referred a couple of my friends and family and I'll continue to do so. I can only imagine there must be tremendous hoops to jump through starting up a new financial service like this. Thanks for working hard to get that to the public expeditiously.
- Grenville F.
I expect my bank to...
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